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Second Intersection Confirms Further Uranium on C10 trend at CanAlaska's West McArthur Project
Vancouver, British Columbia--(Newsfile Corp. - September 12, 2017) - CanAlaska Uranium Ltd. (...
About this update from Cameco Corporation
[{"type":"text","content":"Second Intersection Confirms Further Uranium on C10 trend at CanAlaska's West McArthur ProjectDiamond drill hole WMA042-2 intersects 1.4% eU3O8 over 5.1 metresVancouver, British Columbia--(Newsfile Corp. - September 12, 2017) - CanAlaska Uranium Ltd. (TSXV: CVV) (OTCQB: CVVUF) (FSE: DH7N) (\"CanAlaska\" or the \"Company\") is pleased to report interim results from drill hole WMA042-2, a wedge from mineralized drill-hole WMA042 (1.4% eU3O8 over 5.1 metres), on the West McArthur uranium project (\"Project\"). The ongoing drill program is being conducted by Cameco Corporation (TSX: CCO) (NYSE: CCJ). Drill hole WMA042-2 commenced at 275 metres downhole in strongly bleached sandstone with characteristic clays and alteration similar to that overlying nearby uranium deposits. Seven fault zones are reported. The drill hole is across the conductor trend and intersected the unconformity approximately 24 metres southeast of the mineralized intersection reported for WMA042. (see news August 30 2017) The calculated average grade of the uranium intercept, as measured by calibrated probe, is 1.4% eU3O8 over 5.1 metres (Table 1). Table 1: Equivalent Uranium Grades — WMA042-2Hole NumberDepth From (m)Depth To (m)Length (m)Max Grade (% eU3O8)Avg Grade (% eU3O8)GT (m%)WMA042-2773.3778.45.15.71.47.1 The uranium mineralization is disseminated within a brittle sandstone fault at 768.4 meters to the unconformity at 778.0 metres. The fault is characterized by broken to unconsolidated core with strong sooty pyrite, 16% core loss, strong quartz dissolution, and strong clay replacement that includes 10-40 cm wide sections of massive clay. Detailed assays and interpretation from the drill program is expected to be reported in October.Cameco is carrying out the current work as part of an option to earn a 60% interest in the West McArthur project. Cameco has paid CanAlaska an initial $725,000 and has the right to earn a first stage 30% interest for a $5 million exploration program within 3 years ($1.1 million to date) on two separate target areas: Grid 1 and Grid 5. Cameco will then have the right, after a $500,000 payment, to carry out a further $6.275 million of work on the Project over the following 3 years to earn a further 30% interest and form a Joint Venture (JV) with CanAlaska. The West McArthur Uranium Project covers 35,830 hectares (88,5...